Greater China Equity Long/Short Analyst

Eric Chen

With a blend of sell-side and buy-side perspectives, Eric has covered and researched hundreds of Greater China equities in TMT and consumer spaces - two sectors woven together by the overarching thesis of technology empowering consumption. 

Eric is highly experienced in fundamental equity long short strategy. He seeks to produce differentiated and original research that combines holistic qualitative framework, unique angles and robust modelling. The process helps gain deep insights into critical value drivers misunderstood by the market, which results in mis-priced stocks and hence long/short opportunities.

Anhui Conch (914 HK): Turnaround in Sight

Anhui Conch Cement (914 HK): Increasingly Favourable Odds

Anhui Conch Cement (914 HK): Time for More Aggressive Thoughts?

Equity Bottom-Up

<ul>
<li>Recent significant clinker price hikes in Yangtze river region boost our confidence that 4Q will likely see the company’s earnings double Y/Y, ending 14 consecutive quarters of decline since 2Q21.</li>
<li>Beijing’s bazooka stimulus package to lift the property market and revive economy also improve industry outlook in 2025.</li>
<li>Consensus has been slow to adjust for the changes in industry dynamics. Our 2024 earnings is now 15% above consensus. We expect upward earnings revision will support P/B expansion.</li>
</ul>


Recent significant clinker price hikes in Yangtze river region boost our confidence that 4Q will likely see the company’s earnings double Y/Y, ending 14 consecutive quarters of decline since 2Q21.
Beijing’s bazooka stimulus package to lift the property market and revive economy also improve industry outlook in 2025.
Consensus has been slow to adjust for the changes in industry dynamics. Our 2024 earnings is now 15% above consensus. We expect upward earnings revision will support P/B expansion.


Anhui Conch (914 HK): Sharp Price Hikes Boost Our Confidence in 4Q Turnaround